On November 15th, JD.com released its financial report for the third quarter of 2023. Data shows that JD's total revenue reached 247.7 billion yuan, a year-on-year increase of 1.7%; The operating profit increased by 6.6% year-on-year to 9.3 billion yuan; The net profit attributable to the common shareholders of the company was 7.9 billion yuan, compared to 6 billion yuan in the same period last year.
Specifically, in the third quarter, JD Logistics and Dada contributed higher revenue growth rates, with year-on-year growth of 16.5% and 20.4%, respectively. In contrast, JD's retail business is under pressure, with a retail revenue of 212.06 billion yuan, almost unchanged from the same period last year's 211.92 billion yuan increase, and a year-on-year decrease of 0.9% in product revenue. Among them, the revenue growth of electronic products and household appliances has stagnated, while the revenue growth of daily necessities has decreased by 2.3% year-on-year.
JD's service revenue has significantly increased, with a year-on-year increase of 12.7% to 52.39 billion yuan, with logistics and other service revenue contributing to a higher growth rate.
In terms of expenses, in the third quarter, JD's performance expenses increased by 6.1% year-on-year to 15.2 billion yuan compared to the previous quarter. Due to the end of June 18th, JD.com significantly reduced its marketing expenses to 8 billion yuan, a year-on-year increase of 4.6%. The marketing expenses for the previous quarter were 11.1 billion yuan.
At the same time, JD also announced changes in its executives in the announcement. Ms. Xu Ran, CEO of JD.com Group, will also serve as CEO of JD.com Retail Group. Xin Lijun, former CEO of JD.com Retail Group, has another appointment.